P Diddy's final album is almost ready but first here's the rerelease of his mixtape MMM

But first, the performer wants to go out with a bang by rereleasing his well-received mixtape, MMM (Money Making Mitch), on iTunes on Friday. The mixtape serves as the prequel to No Way Out 2, P Diddy's final album to be released next year.

"I'm just following in the footsteps of Frank Sinatra," said the rapper, born Sean Combs, in an interview on Wednesday. "It feels good to end something on your terms that you worked so hard to build."

MMM was initially released for free on 4 November — the Grammy winner's 46th birthday. The mixtape garnered positive reviews and featured artists like Future, Lil Kim, Jadakiss, French Montana and others.

Combs said he felt compelled to rerelease the mixtape after hearing the "overwhelming demand" from fans and colleagues to sale it. The rerelease will include a new interlude and two additional tracks.

"I was surprised that after people had a chance to have it for free, they still want to buy it," he said. "I heard about the effect that Kendrick Lamar had when he let everybody hear his album for a week for free before they could buy it. It just shows that if it's quality, people have a demand for it."

After his recording career is done, Combs said he plans to travel and spend more time with his six children while plotting his next steps in life. But he said he won't disappear completely from the music scene.

"I will always be around music," said Combs, who owns the television network Revolt.

He will hit the stage for Fox's Pitbull's New Year's Revolution, airing live on 31 December from Miami. It will also include Timbaland, Empire actor-singer Jussie Smollett, Earth, Wind & Fire and Austin Mahone.

After the show, Combs will host a private after-hour event to bring in the new year.

"We're doing a countdown to 3:00," said Combs. "A lot of my friends out there have shows. We'll all get together, say our prayers, give thanks and bring in the new year the right way."